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At 3.18% CAGR, Global Industrial Rubber Market Size & Share to Surpass USD 37.65 Billion by 2028: Industry Trends, Demand, Sales, Analysis & Forecast Report by Facts & Factors

[220+ Pages Report] According to a market research study published by Facts and Factors, the demand analysis of Global Industrial Rubber Market size & share revenue was valued at around USD 31.10 billion in 2021 and is estimated to grow to about USD 37.65 billion by 2028, at a CAGR of approximately 3.18% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), ZEON Corpo, and others.

NEW YORK, NY, May 23, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Industrial Rubber Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Industrial Rubber Market size & share was worth at about USD 31.10 billion in 2021 and it is likely to exceed around USD 37.65 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 3.18% during the forecast period 2022 to 2028.”

What is Industrial Rubber? How big is the Industrial Rubber Industry?

Market Overview:

Rubber is a resilient elastomeric polymer that can be produced synthetically or extracted from the latex of tropical plants. The market for industrial rubber is growing at a healthy clip, and this trend is expected to continue in the foreseeable future. This is because more items are becoming readily available in developing nations, more people are becoming self-sufficient financially, and there is a growing demand for goods made from rubber. In addition, it is anticipated that the market for mechanical rubber would experience significant development as a consequence of the rise in buying parity.

Moreover, governments are enforcing stringent rules to lessen the usage of industrial rubber products and better manage trash generated by these items; this has created a significant obstacle for enterprises that manufacture industrial rubber products to overcome in order to remain profitable.

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Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 220+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Report Scope

Report Attribute Details
Market Size in 2021 USD 31.10 Billion
Projected Market Size in 2028 USD 37.65 Billion
CAGR Growth Rate 3.18% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), ZEON Corpo, and Others
Key Segment By Type, Application, Product, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Global Industrial Rubber Market: Dynamics

Driving Factors:

  • Growing demand from the automotive industry

Increasing demand from the automotive industry, rising scope of application, rapid industrialization, and increasing production of synthetic rubber are prominent trends propelling the market growth. Additionally, industrial rubber products have found an extensive scope of application in multiple end-use verticals and automotive is one of the major ones that drive the overall market growth over the upcoming years. Besides, the increasing sustainability trend is expected to have a restraining effect on the global industrial rubber product market and is expected to emerge as a major challenge for industrial rubber product companies.

Moreover, rising automobile production and increasing use of rubber in multiple components are expected to make this industry a major end-use vertical for the industrial rubber product market growth over the forecast period. The industrial rubber product market is expected to be majorly driven by this industry.

Restraints:

On the other hand, the increasing sustainability trend is expected to have a restraining effect on the global industrial rubber product market and is expected to emerge as a major challenge for industrial rubber product companies.

Browse the full “Industrial Rubber Market By Type (Natural Rubber, Synthetic Rubber), By Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification, Coating, Sealant & Adhesive, Medical & Healthcare, Others), By Product (Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others), and By Region - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/industrial-rubber-market

Industrial Rubber Market: COVID-19 Impact Analysis

COVID-19 damaged 2020's market. In the case of a pandemic, automotive manufacture and mineral mining operations were temporarily halted during the lockdown, resulting in a decline in demand for conveyor and transmission belts, pressure hoses, and other rubber items from end-user sectors including automotive and mining. Many industries have lost manpower, control, resources, and other elements due to the government's harsh COVID-19 legislation and limitations. Many industries came to a halt as the world tried to stay alive during the COVID-19 pandemic. The devastating virus slowed market expansion.

Agriculture delays have reduced natural rubber production. Productivity and consumption suffered. During COVID-19, real estate, construction, and new building were all discussed, but rubber industries lagged. The market for COVID-19 may develop due to shifting global dynamics.

The full report examines both qualitative and quantitative elements of the Industrial Rubber industry. Both demand and supply are studied. The demand side study compares market income across regions and countries. The supply-side research investigates prominent rivals' regional and worldwide presence and strategy. North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America are all carefully researched.

Industrial Rubber Market: Segmentation Analysis

The global Industrial Rubber market is segregated based on application, product, type, and region.

Application Segment Analysis

  • In terms of Application, in 2021, the automotive category accounted for the biggest share of the global Industrial Rubber market.
  • The automotive industry holds the major share in the global industrial rubber market and is expected to continue its dominance during the forecast period. This is majorly due to the increasing use of industrial rubber in conveyor belts and other belting applications in agriculture and construction machinery.
  • Among types of industrial rubbers, the automotive industry consumes synthetic rubber more due to its easy processing ability and better performance.

Type Segment Analysis

  • In terms of Type, in 2021, the synthetic rubber segment is expected to lead the market and emerge as a highly lucrative segment over the forecast period.
  • This segment will be driven by rising use in the automotive sector. Its better abrasion-resistant quality makes it a good substitute for natural rubber. Also, Synthetic rubber is used in large quantities in automotive applications as an abrasion-resistant replacement for natural rubber.
  • Synthetic rubber produced in the latex form is used as a rubbery adhesive in carpet manufacturing.

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Competitive Landscape

Some of the main competitors dominating the global industrial rubber market include - 

  • LANXESS (Germany)
  • Sinopec (China)
  • Goodyear Tire and Rubber Company (US)
  • Kumho Petrochemical (South Korea)
  • TSRC Corporation (Taiwan)
  • Nizhnekamskneftekhim (Russia)
  • JSR Corporation (Japan)
  • LG Chem (South Korea)
  • Versalis S.p.A. (Italy)
  • ZEON Corpo

Key Insights from Primary Research:

  • As per the analysis shared by our research analyst, the Industrial Rubber market is estimated to grow at a CAGR of around 3.18% during forecast period.
  • In terms of revenue, the Industrial Rubber market was valued at around USD 31.10 billion in 2021 and is projected to reach USD 37.65 billion, by 2028.
  • In 2021, synthetic rubber, an abrasion-resistant alternative to natural rubber, will propel the segment's expansion.
  • Based on application, the Automotive is expected to be the leading sub-segment due to fast increase in automotive and vehicle component production in emerging nations such as South Korea, China, India, and other South-Asian countries.
  • On the basis of region, the The Asia-Pacific region is expected to dominate the Industrial Rubber market in 2021. North America and Europe are expected to witness a substantial share in the coming years.

Have Any Query? Ask Our Experts: https://www.fnfresearch.com/inquiry/industrial-rubber-market

Key questions answered in this report:

  • What is the market size and growth rate forecast for Industrial Rubber industry?
  • What is the main driving factors propelling the Industrial Rubber Market forward?
  • What are the leading companies in the Industrial Rubber Industry?
  • What segments does the Industrial Rubber Market cover?
  • How can I receive a free copy of the Industrial Rubber Market sample report and company profiles?

Regional Overview:

In 2021, Asia Pacific had a major share in the global industrial rubber market and is estimated to continue its dominant position over the upcoming years. This is due to rapid urbanization, increased industrialization, government support, increasing investments, and low cost of manufacturing.

The rubber industry of India has evolved considerably to tailor to the increase in needs of the domestic market which is expected to enhance the market growth in the coming years. Innovation and development in the rubber industry such as the manufacturing of eco-friendly rubber are expected to offer growth opportunities to the market over the upcoming years.

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(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

The global industrial rubber market is segmented as follows:

By Type:

  • Natural Rubber
  • Synthetic Rubber

By Application:

  • Automotive
  • Building & Construction
  • Industrial Manufacturing
  • Polymer Modification
  • Wire & Cable
  • Electrical & Electronics
  • Bitumen Modification
  • Coating, Sealant & Adhesive
  • Medical & Healthcare
  • Others

By Product:

  • Mechanical Rubber Good
  • Rubber Hose
  • Rubber Belt
  • Rubber Roofing
  • Others

By Region:

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

To know an additional revised 2022 list of market players, request a sample report: https://www.fnfresearch.com/sample/industrial-rubber-market

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